Ideally, we will never sell a single penny’s worth of crypto and the market will rise naturally, organically, up and down, higher and higher forever.

Big upswings, big downswings, fast times, slow times, bull and bear markets, but nothing so extreme that we need to abandon our stakes in the financial networks of the future.

That’s a nice thought but unlikely to happen. You don’t want to sit through an 80% drop in your portfolio and wait two more years to get back to even.

If you’re following my plan, you’ve suffered painful, frustrating, sometimes long-lasting downswings and big, sudden drops, but nothing that serious.

Let’s try to keep it that way. If that means we have to sell, so be it.

Read below for a few ideas from myself and others. Nothing too specific.

As you read it, you’ll need to consider your country’s laws and taxes, as well as your financial situation, personal goals, risk tolerance, investment strategy, what you plan to do with your gains, and all the other things that make your situation—and decision—unique.

At the end, I’ll briefly share my personal strategy.

Hopefully, you find the information and links useful. Leave your thoughts and comments at the bottom of this post!

Prepare now

This market moves fast and a lot can go wrong on your way to the exit.

When the time comes to sell, prices will go haywire, with massive swings from day to day, hour to hour. Exchanges will fail. Wallets will go into “maintenance.” DEX fees will skyrocket. Smart contract flaws will screw people over.

Act now to make the exit as fast and easy as possible.

Check your wallets, keys, and passwords

Do you know what sucks?

Getting locked out of your wallet or exchange account.

To avoid this, confirm your backup phrase and private keys now. Write those down and keep them someplace safe.

Log into all of your exchanges to make sure 2FA works correctly and you have the right passwords. If you need to reset your password, do that now.

Set your email’s spam filter to catch exchange emails. On their FAQ pages, most exchanges have instructions for whitelisting their emails in your spam filter. Follow those instructions.

KYC if you need to

If you use an exchange that requires KYC to withdraw your crypto, you’ll want to complete that process now.

While the process usually takes a few minutes or less, it’s a hassle and sometimes takes days to complete.

Since you’re going to use the exchange anyway, you might as well do your KYC now. One less thing to worry about later.

Prepare to unstake

If you have staked altcoins with lock-up periods, make sure you account for the time it will take to unstake them.

For example, Aave takes 10 days to unstake. As a result, you need to start the process at least 10 days before you sell. Other altcoins have different schedules.

Make sure you have enough tokens to cover the gas and transaction fees when applicable. Most likely, on-chain transaction fees will go up a lot when the market is hot enough to force us to sell, even on “low-cost” blockchains.

Airdrops, anybody?

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